Corcept Therapeutics (NASDAQ:CORT) Insider Roberto Wandenkolk Vieira Sells 8,333 Shares of Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider Roberto Vieira sold 8,333 shares of Corcept Therapeutics stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $80.89, for a total transaction of $674,056.37. Following the completion of the sale, the insider owned 3,946 shares of the company’s stock, valued at $319,191.94. This trade represents a 67.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Roberto Wandenkolk Vieira also recently made the following trade(s):

• On Friday, October 2nd, Roberto Vieira sold 8,333 shares of Corcept Therapeutics stock. The shares were sold at an average price of $116.10, for a total transaction of $967,461.30.
• On Wednesday, September 16th, Roberto Vieira sold 296 shares of Corcept Therapeutics stock. The shares were sold at an average price of $100.82, for a total value of $29,842.72.
• On Wednesday, September 2nd, Roberto Vieira sold 58,333 shares of Corcept Therapeutics stock. The shares were sold at an average price of $110.76, for a total value of $6,460,963.08.

Corcept Therapeutics Price Performance

Shares of CORT stock opened at $79.22 on Thursday. The firm has a market capitalization of $8.56 billion, a price-to-earnings ratio of 64.51 and a beta of 0.54. The business has a fifty day moving average of $109.43 and a 200 day moving average of $75.28. Corcept Therapeutics Incorporated has a 1 year low of $28.66 and a 1 year high of $126.38.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings results on Tuesday, November 3rd. The biotechnology company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.17. The business had revenue of $340.47 million for the quarter, compared to the consensus estimate of $339.12 million. Corcept Therapeutics had a return on equity of 24.00% and a net margin of 16.53%. The company’s quarterly revenue was up 64.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.16 EPS. As a group, equities research analysts expect that Corcept Therapeutics Incorporated will post 1.83 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CORT shares. Wolfe Research downgraded Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 target price for the company. in a report on Monday, July 27th. Weiss Ratings upgraded shares of Corcept Therapeutics from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, September 24th. Zacks Research downgraded shares of Corcept Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 27th. Truist Financial assumed coverage on shares of Corcept Therapeutics in a research report on Tuesday, August 18th. They set a “buy” rating and a $164.00 price target for the company. Finally, Piper Sandler restated an “overweight” rating and set a $173.00 price objective (up from $165.00) on shares of Corcept Therapeutics in a research note on Wednesday. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Corcept Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $139.50.

Institutional Investors Weigh In On Corcept Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. New York Life Investment Management LLC acquired a new position in Corcept Therapeutics in the third quarter valued at approximately $294,000. AlphaCore Capital LLC purchased a new stake in Corcept Therapeutics in the 3rd quarter worth approximately $390,000. Retirement Systems of Alabama purchased a new stake in Corcept Therapeutics in the 3rd quarter worth approximately $11,306,000. Fulcrum Asset Management LLP boosted its position in Corcept Therapeutics by 520.7% in the 3rd quarter. Fulcrum Asset Management LLP now owns 571 shares of the biotechnology company’s stock worth $66,000 after purchasing an additional 479 shares in the last quarter. Finally, Brighton Jones LLC grew its stake in shares of Corcept Therapeutics by 51.9% during the 3rd quarter. Brighton Jones LLC now owns 11,335 shares of the biotechnology company’s stock worth $1,306,000 after purchasing an additional 3,872 shares during the period. 93.61% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Corcept Therapeutics

Here are the key news stories impacting Corcept Therapeutics this week:

• Positive Sentiment: Q3 revenue rose 64% year over year to $340.5 million, topping the $336.4 million consensus estimate. Earnings of $1.01 per share also beat the $0.79 estimate. Stronger Korlym sales and growing Lifyorli uptake helped drive the results. Article: CORT’s Q3 Earnings Beat
• Positive Sentiment: Piper Sandler reaffirmed its “overweight” rating and raised its price target to $173 from $165, signaling confidence in the company’s prospects. Article: Piper Sandler stock recommendations
• Neutral Sentiment: Corcept is awaiting a December 17 FDA decision on relacorilant and has projected $3 billion to $5 billion in Cushing’s syndrome revenue by 2030. The decision and longer-term sales target could be meaningful catalysts, but depend on regulatory and commercial success. Article: Corcept’s relacorilant decision and revenue target
• Negative Sentiment: Despite the earnings and revenue beats, shares sold off as investors reacted to company guidance, which appeared to disappoint or fall short of expectations. That forward-looking concern outweighed the strong quarterly results. Article: Corcept falls on guidance despite earnings beat

About Corcept Therapeutics

Corcept Therapeutics Incorporated (NASDAQ:CORT) is a commercial-stage biopharmaceutical company focused on developing medicines that selectively modulate the glucocorticoid receptor. The company’s research is based on the role of excess cortisol in metabolic, psychiatric, oncologic and other serious medical conditions.

Corcept’s primary marketed product is Korlym (mifepristone), an oral glucocorticoid receptor antagonist approved in the United States to control hyperglycemia secondary to endogenous Cushing’s syndrome in adults with type 2 diabetes or glucose intolerance who are not candidates for surgery or have not responded adequately to surgery.